BOSTON & MINNEAPOLIS, Dec 03, 2009 (BUSINESS WIRE) -- U.S. Bank has been named trustee and fiscal agent for $218.3 million in
bonds for the Massachusetts Bay Transportation Authority (MBTA).
On October 29, 2009, the MBTA issued $218.3 million of its Senior Sales
Tax Bonds 2009 Series C (Federally Taxable - Direct Pay to Issuer -
Build America Bonds) under the American Recovery and Reinvestment Act of
2009. It was the second Build America Bond to be issued in the
Commonwealth of Massachusetts. U.S. Bank serves as trustee and fiscal
agent for the more than $5.2 billion in total debt outstanding issued by
The MBTA finances and operates mass transportation facilities in 175
cities and towns in the greater Boston metropolitan area. The MBTA is
the oldest and fifth largest transit system in the United States,
operating subway, trackless trolley, trolley, bus and commuter rail
services throughout Eastern Massachusetts.
U.S. Bank has 46 corporate trust offices across the country and offers a
complete line of trust services. U.S. Bank serves as trustee and paying
agent for the issuance of taxable and non-taxable securities, including
the review of documents and indentures, registration and authentication
of bonds, receipts and disbursement of bond sale proceeds, successor
trusteeships, escrow account services and transfer and paying agency
services. Also, U.S. Bank provides mortgage-backed and asset-backed
securitizations, money market paying agency services, bond and tax
administration, escrow services and document custody services.
U.S. Bancorp (NYSE: USB), with $265 billion in assets as of Sept. 30,
2009, is the parent company of U.S. Bank, the sixth largest commercial
bank in the United States. The company operates 3,002 banking offices in
25 states and 5,170 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. Visit U.S. Bancorp
on the web at www.usbank.com.
SOURCE: U.S. Bank
Amy Frantti, Media Relations, 612-303-0733